Barbie may have boldly asked its fans to "be who you want to be," but apparently, one of the things Barbie isn't right now is a growing toy product.

Mattel reported net sales at $946.2 million, about 5 percent lower than last year. And, it also reported a loss of $11.2 million in the most recent quarter compared with a $38.5 million profit a year ago. One of the big reasons: Its iconic Barbie sales fell 14 percent.

According to Steve Cortes, founder of Veracruz TJM, Mattel products like Barbie and Thomas the Tank Engine are having a tough time keeping children's interests.

"It is a digital world," Cortes said on the "Talking Numbers" segment of CNBC’s “Street Signs.” "If you were to put those toys on the floor next to a tablet that has games on it, almost every child now is going to play with the tablet. So, in this space, I much prefer that you look to names like Electronic Arts or even Disney, the creators of the next wave of kids' entertainment, not Mattel."

For investors more interested in playing Mattel's stock rather than its toys, “Talking Numbers” contributor Richard Ross, global technical strategist at Auerbach Grayson, says there may be some interesting things going on with Mattel's long-term charts.

Ross sees a triple top at $48 per share over the past year, the last of which happened at the end of 2013. At the beginning of February, the stock plunged to $36 per share. Ross believes $40 per share is currently the stock's resistance level.

But, Ross says that the long-term chart may provide a buying opportunity for those who believe in Mattel's long-term prospects because the stock has held a five-year trend line.

"In addition, you have that 150-week moving average which has also held for the past five years," said Ross. "So, as long as you hold that trend line, you hold that support. The uptrend remains intact and that stock could be an interesting buy on that 25 percent pullback."

To see the full discussion on Mattel, with Cortes on the fundamentals and Ross on the technicals, watch the video above.

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